*** SHADOW PRICES ***
ALTERNATIVE SHIP RESALE VALUES.
CALCULATED AS OF 09/07/09.
(ALL PRICES IN MILLIONS OF US$).
.
SHADOW PRICES FOR BULK CARRIERS.
DWT AGE 5 AGE 10 AGE 15 AGE 20
52,000 $ 30.3M $ 21.7M $ 14.5M $ 8.5M
74,000 $ 35.1M $ 25.6M $ 17.4M $ 10.3M
172,000 $ 49.8M $ 36.2M $ 24.0M $ 12.8M
.
SHADOW PRICES FOR TANKERS.
DWT AGE 5 AGE 10 AGE 15 AGE 20
45,000 $ 30.9M $ 20.5M $ 13.5M $ 7.5M
105,000 $ 38.9M $ 25.6M $ 14.3M $ 7.1M
305,000 $ 69.6M $ 44.1M $ 23.6M $ 13.4M
.
SHADOW PRICES are based on the very strong
historic correlation between Charter Rates
and Ship Values. Charter Rates measure a
vessel's earning power, which is a direct
determinant of its resale value.
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